5 Best Aristocrat Dividend Stocks to Buy

2. Johnson & Johnson (NYSE: JNJ)

Number of Hedge Fund Holders: 81
Dividend Yield: 2.49%

Drug manufacturer Johnson & Johnson (NYSE: JNJ) ranks 2nd in our list of 10 best aristocrat dividend stocks to buy. The New Jersey-based pharmaceutical corporation owns products under Tylenol, Zyrtec, Benadryl, and Sudafed. In addition, the company owns health consumer goods namely Clean & Clear, Neutrogena, and Aveeno. The healthcare giant raised its dividend by 5% to $1.06 per share in April 2021, extending its 59-year streak of annual dividend growth. Johnson & Johnson maintains a payout ratio of 70.36%. 

The company has a market cap of $448 billion. The company’s revenue in the first quarter of 2021 was $22.3 billion, an increase of 7.9% from $20.7 billion in the first quarter of 2020. Shares of JNJ increased 15% over the past twelve months. Twelve Wall Street analysts rated Johnson & Johnson as a “Buy” with a $185.18 price target. 

At the end of the fourth quarter of 2020, 81 hedge funds in the database of Insider Monkey held stakes worth $1.37 billion in Johnson & Johnson (NYSE: JNJ). Peter Rathjens, Bruce Clarke, And John Campbell’s Arrowstreet Capital own 9,004,994 shares of the firm worth $1.48 billion.